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MSNBC
Nov 26, 2012 5:00pm PST
in entitlement reform. medicare, medicaid, these are chief drivers of the deficit. there's other spending we have to cut. >> hold on a second. i think that we all know what the chief drivers of our deficit are and have been. our projected deficit has driven by the wars and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible, but he also said this. >> where the big bottleneck is republicans in congress around revenue and how much and where does it come from, democrats are going to have to step up and do some tough things. and the notion that somehow that these deficits and our debt are not a threat to our national security on our economic future is something i cannot disagree with more strongly. there are some commentators on the left that suggest that. that we shouldn't deal with that at all. >> voices on the left are not saying the deficit is not a problem for our future. progressives understand we need to deal with our debt, but progressives don't want to see the burden of deficit reduction p
MSNBC
Nov 26, 2012 8:00pm PST
to solve the deficit standoff, people should listen to this guy. plouffe said this is going to get hairy? >> we want to engage in comprehensive tax reform. we also need to engage in entitlement reform. you know? medicare, medicaid carefully, these are chief drivers of our deficit. we made a lot of progress with obama care and there's other spending we have to cut. >> hold on a second. i think we all know what the chief drivers of our deficit are and have been. our projected deficit over the next seven years is driven mostly by the wars in iraq and afghanistan and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible on higher tax rates, but he also said this. >> and so where i think the big bottleneck right now is republicans in congress on revenue and how much and where does it come from. democrats are also going to have to step up here and do some tough things. and you know, the notion that somehow that these deficits and our debt are not a threat to our national security and our econo
MSNBC
Nov 24, 2012 3:00am PST
to do something to fix our skyrocketing deficit. our national deficit that he will tell you has been going up and up and up like a rocket and spiraling out of control like a something going out of control and paul ryan is just so right and if congress and president obama do not do something to stop the skyrock edding deficit, to sop up the red ink, if they don't do it by new year's or sometimes whenever the emergency is supposed to happen, we will go flying off the fiscal cliff. and not like these guys who mean to do that, but more like cliffhanger cliff on "the price is right" for whom going over the edge is really a dire mistake. beware the fiscal cliff. you will hear this at the thanksgiving dinner table. when someone inevitably brings up the fiscal cliff and how our sky rocketing deficit is a huge danger to us, do not crawl under the table. do not give up on thanksgiving. help your giant uncle understand that what he is freaking out about is not true. it is easy. there are visual aids that might help. look. first of all, the amount of money borrowed by the government has been goi
MSNBC
Nov 27, 2012 1:00pm PST
, don't worry as much about the deficit, the revenues will come in, and we have to get rid of the social safety net the way it's been, and cut spending, slash spending dramatically. it was very divided policywise and barack obama won pretty handily. >> a week after the election john boehner, speaker boehner, does a press statement and he says we're not going to raise revenues. we should look at loopholes and deductions. >> one thing that hasn't changed and you can put on as many senate republicans as you want looking reasonable. what hasn't changed is the tea party caucus in the house. they've lost a few members, but they're still a majority and john boehner has to find some way to get something past them. that's why i doubt there will be a christmastime deal. i think the president is going to have to let these tax cuts end and then boehner may have a chance of convincing them to pass tax cuts for the bottom 98% without the top 2%. >> do you agree with that, dr. peterson? that the president will be forced to allow these to run their course simply so that republicans in the house won't ha
MSNBC
Nov 23, 2012 10:00am PST
about $30,000 which is inconsequential. it has no impact on deficit reduction or very little. so far there haven't been any what i would consider to be really sincere efforts at reaching some kind of accommodation on revenues. >> this week speaker john boehner said that the health care law should also be a part of the negotiations. he wrote this in the cincinnati enquirer. saying in part the president's health care law adds aive, expensive, q8unworkable government program at time when our national debt already exceeds the size of our an't afford it and we can't afford to leave it intact. the white house saying this is off the table, that this is a battle that has been fought and won. does the speaker's request, does it make the talks more difficult? >> no. i think what he's doing there is basically trying to throw a bone wing. you know, but there's a factual problem wi according to the cbo, if you repeal the affordable care act it adds trillion to the deficit. so if you're trying to get deficit reduction the affordable care act actually helps with deficit redu
MSNBC
Nov 28, 2012 9:00am PST
the deadlines we're facing on taxes and deficits. these deadlines are going to be coming up very soon in the coming weeks. but today's important because i want to make sure everybody understands this debate is not just about numbers. it's a set of major decisions that are going to affect millions of families all across this country in very significant ways. and their voices, the voices of the american people, have to be part of this debate. and so i asked some friends of mine here to join me, some folks from here in the area. our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. that kind of agreement would be good for our businesses, it would be good for our economy, it would be good for our children's future. and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but -- the place where we already have in theory at least complete agreement, right now, is on middle-class taxes. and as i've said before, we have two choices. if congre
MSNBC
Nov 20, 2012 8:00pm PST
income is going down. who is better prepared to help us with with deficit reduction? struggling working people or people on top doing well? >> that was answered on november 6th. the proposals will be coming in next week. what changes would you be willing to make to medicare because the republicans, you heard mitch mcconnell, you have to have entitlement reform to the republicans is cuts. that's what their entitlement reform is. would you do anything to medicare at all? >> sure. look, ed, what has to be understood is are we not only the country that doesn't care to all people, we pay by far much more per capita for health care than does any other nation. it's a wasteful system. for example, in terms of medicare, republicans demanded as part of medicare part d that the medicare could not negotiate drug prices with the pharmaceutical industry. the v.a. does that. why isn't medicare doing that? furthermore, if we develop efficiencies that save the system money, let's do it. but let us not cut benefits for the elderly or for the poor who are on medicaid. >> finally, senator, are you willing
MSNBC
Nov 21, 2012 9:00am PST
's translate that. according to the congressional budget office, falling off the cliff would cut the deficit but stop economic recovery in its tracks. now presidents in both parties usually try to put money in people's pocketses to stimulate the economy. president bush sent taxpayers a refund check while obama has cut payroll taxes. p falling off the cliff is a reversal of that approach. that's why the cbo estimates economic growth would drop under 1% to just .5%. and unemployment could jump over a point to 9.1%. heather, we know the costs, we understand this game because the republicans have been playing it for a while. do you think anything has shifted post-election in way that will actually get a deal done? >> i think what's really come to roost for conservatives has been the fact they were pushing a vision for our economy that included basically just this, except for the tax increases, right. they said starting in 2010, the deficit is the most important thing, it's the most important thing, and now, they're basically faced with immediate deficit reduction and realize, oh, this is actuall
MSNBC
Nov 21, 2012 5:00pm PST
reduce the deficit. it doesn't make a lot of sense to get rid of a deficit reduction program, as part of a deficit reduction deal. the white house already rejected boehner's idea. obama care will not be part of debt negotiations. boehner is up to something here, don't you think? something else, that is. if you watch john boehner closely over the last two weeks, you can see him laying the ground work for the latest ploy. he call eed obama care the law the land, but also tried to link it to obama care and the budget. >> you had said, next year, that you would repeal the health care vote. that's still your mission? >> well, i think the election changes that. it's pretty clear that the president was re-elected. obama care is the law of the land. i think there are parts of the health care law that are going to be very difficult to implement. and very expensive. and at a time where we're trying to find a way to create a toward a balanced budget, everything has to be on the table. >> but you won't be spending the time next year, trying to repeal obama care? >> there are certainly may be part
MSNBC
Nov 28, 2012 6:00am PST
that reduces the deficit by $4 trillion. that is substance. so he has not waited for people to start smelling the jet fumes at national airport. he has actively put forward a plan. >> the white house and republicans are ramping up their pr, something significant is happening behind the scenes. both sides appear to be preparing their own basis to eat their vegetables, if you will. in other words, get ready to make some sacrifices on sacred cows that are required for a grand bargain. for republicans that means swallowing changes to the bush-era tax rates and yesterday the first major house republican broke with the party line in a private meeting with the house republican whip team which is responsible for counting the conference's votes. oklahoma congressman tom cole said it's time to immediately extend the bush-era tax cuts which, of course, is what obama is calling for, for households earning less than $250,000 a year. then he later told "the new york times," quote, the first thing i'd do is make sure we don't raise taxes on 98% of the american people. we'll get some credit for that, and it'
MSNBC
Nov 27, 2012 8:00am PST
puts forward his plan. how is he going to close the other part of that deficit? you know, his proposal right now, the most he can say would raise would be about $68 billion when our deficit last year was $90 billion. what is the president's plan for closing the additional additional $1 trillion worth of deficit? i think that's incumbent on the president to put forward his plan. >> from your standpoint alone, there's no way you see fit in the coming 35 days that you would break that pledge with glove norquist. >> well, thomas, let's use a couple numbers here. even with this measly economic growth we've seen the last three years, revenue at the federal government has increased $344 billion per year. if we just return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> tha
MSNBC
Nov 28, 2012 1:00pm PST
cut the budget, if we cut the deficit and raise taxes, i don't think that's the worst thing in the world. as warren buffett has been saying for the last 24 hours, are you really going to turn down a good investment opportunity just because the tax rates are a little higher in we're talking about a minor 4 percentage point increase in the upper end of the tax rate here. it's not life or death. you know, cutting the deficit and raising taxes, if they can't agree, which congress has shown themselves inability to agree. if they're not going to agree, maybe it's not the worst thing in the world for tax rates to go up and for the deficit to be cut. i think that could result in a big economic boom. >> wow. >> and then, let's say two weeks after we go over the cliff, after the 1st of january, they then cut attacks for everybody -- >> but here's the problem with that notion. it's not fine. but, john, it's not fine because a lot of ordinary middle class people -- >> that's the problem. >> -- are trying to spend money at christmas and they're deeply anxious about what's going to happen
MSNBC
Nov 20, 2012 7:00pm PST
it and they are very, very, very loathed to break it. and that's made it impossible to reach a deficit reduction deal, until now. "the new york times" has an article in which republican after republican after republican goes on the record by name dismissing his pledge and his power. peter king says a pledge is good at the time you sign it. in 1941 i would have voted to declare war on japan. but each congress is a new congress and you can't have a rule that you're never going to raise or lower taxes. i don't want to rule anything out. senator of georgia said, i'm frankly not concerned about the norquist pledge. senator john mccain said fewer and fewer people are signing this "pledge." it's actually a pledge, but any way. senator coburn called it "a tortured vision of tax purity." and it did you want end there in that article. bill crystal said this. >> let's have a serious debate. don't scream and yell when one person says, it won't kill the country if we raise taxes on millionaires. i don't understand why republicans don't take obama's offer. >> a calmist at the national review wrote, as a matter of
MSNBC
Nov 21, 2012 3:00pm PST
will not increase the federal deficit. they said it will reduce it slightly. ten years slightly and 20 years significantly. it's complete bs to say that this has any deficit implications. it doesn't. this is just a smoke screen. it's a red herring. it's another excuse for not doing what needs to be done. the american people have spoken. the central issue in the campaign was not only tax fairness but raising taxes on the top 2% as a means to help us balance -- get rid of the deficit and eat into the debt. and the american people have said, yes, that's one of the components of the deal. so this is just another smoke screen. it's a delaying tactic. i truly believe that if they keep this up they will pay for it and they will pay for it big time, certainly in the election of 2014. but the sad part is, the nation and people can't wait. we've got to resolve this debt because if we do so, rev, will cause the economy to explode. we will see a resurge in investment, good things happening for the economy. >> congressman ellison, with all of that at stake and clear from every expert that we've heard, it
MSNBC
Nov 26, 2012 11:00am PST
're saying is we don't want to cut the deficit too fast. now when it comes to the fiscal deficit -- >> i want to transition you to the other hot topic that we've been following. it's senator john mccain and his stance or lack thereof now against ambassador susan rice. let me play what he said earlier. i believe it was november 14th and his new line of words, i guess, regarding her possible nomination for secretary of state. let me play it back to back. >> we will do whatever's necessary to block the nomination that's within our power as far as susan rice is concerned. >> she could conceivably get your voros for secretary of state? >> i think she deserves the ability and opportunity to explain herself and her position. >> lois, what's the scoop there there and what's behind this change? >> i think that john mccain is a very, very smart politician, and, you know, a smart politician doesn't want to box in the opponent like he tried to do with president clinton so that president clinton runs out and nominates her. i think everybody needed to kind of cool off a little bit and if he backs off, the
MSNBC
Nov 27, 2012 7:00pm PST
had a huge deficit with african-american voters, hispanic voters and women voters, so i think these potential candidates are trying to map it out. >> david corn, when george w. bush ran, he got such a quick surge in the polls that no one was able to stop him. is jeb bush that guy this time? is he the one that if he makes it clear he's running, others will decide not to? >> you know, i still wonder if two words come to mind. too soon. i mean, the george w. bush presidency is still not held in high esteem amongst many voters who still blame bush for the economic downturn at the end of his administration that has carried us to this day. jeb bush has the ability to talk to hispanic, more moderate, but i also wonder if you know, people will be a little tired of the bush dynasty come to 2016. >> well, they're too tired of it now, but 2016 is a few years away. thank you both for joining me tonight. >>> coming up, good news r for democrats trying to keep control of the senate in 2014 and one republican whose strategy for dealing with latino voters is to completely give up on them. tha
MSNBC
Nov 21, 2012 6:00am PST
the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to end medicare. i mean, that was certainly a big item in the presidential debate is changing medicare into a voucher program. so what i don't believe in is changing the fundamental structure where we break the guarantee to seniors that we've had in our country for decades. that i disagree with. finding savings, there are certainly ways to do that in both programs, but neither one is going to balance or is going to address the deficit without clearly raising revenue. >> an interesting thing has developed among some of your fellow members in the house, democratic caucus, peter welch of vermont, if a deal is bad, that if it's
MSNBC
Nov 21, 2012 7:00pm PST
the bars below zero represent years when the deficit grew. these bars above zero represent years when the deficit shrunk. we're here right now in the deficit shrunk portion of the chart. the point of the shrinking on the whole chart back to 1950. when somebody stops inevitably matering about the fiscal cliff and the sky rocketing deficit, they don't know what they're talking about and they probably don't know it is wrong but you can help with visual aids. we have posted both of those charts we just showed you on our blog and you can load them on your smartphone or ipad to pass around the table and print them out on paper in case your uncle doesn't look liking at these new things. those are waiting for you now. we are here for you. you can do this. report back and let us know how it went. that does it for us tonight. have a great thanksgiving. we'll see you monday. now it is time for the last word with lawrence o'donnell guest hosted by the spectacular ezra kline. good evening. >> good evening, rachel. i am glad to know other people bring charts to thanksgiving dinner. >> we're pr
MSNBC
Nov 28, 2012 10:00am PST
and be on the group with a group of bipartisan business leaders and deficit hawks getting something done, meeting with republicans and democrats. do you have any more optimism let me point out you and your pal erskine bowles, he was quoted as saying he's more pessimistic something will be accomplished. >> my poor dear partner, bloodied but unvowed, six months ago erskine was saying i think we can get there. now, he's pessimistic. would be a word. we were just with a group go big or go home, democrats and republicans alike, they've got signatures of over 200 -- 102 house members, half of the senate working for us, equally divided on both sides, you have to have something bipartisan. you can write it on a single sheet of paper if it had firewalls and triggers, and if it were just signed by an equal number of democrats and republicans, the markets would lay off of us. if they continue to see this dead-head struggling, the same old stuff, they're going to punish us. when they do the guy that will get hurt is the little guy, middle class, inflation, interest rates, that's who gets hammered. what an ir
MSNBC
Nov 26, 2012 2:30am PST
. >> as for the democrats, senator dick durbin says entitlement programs like medicare and medicaid are fair game in deficit negotiations but insists social security should be left alone. >> social security does not add one penny to our debt. not a penny. it's a separate funded operation, and we can do things that i believe we should now, smaller things, played out over the long term that gives it solvency. medicare is another story. only 12 years of solvency lie ahead if we do nothing. so those who say don't touch it, don't change it are ignoring the obvious. >> despite showing a willingness for reform, senator durbin ruled out raising the age for medicare eligibility. if lawmakers fail to act by january 1st, the american people will face roughly $600 billion in tax increases and spending cuts. >>> because he watches "morning joe" every weekday morning -- >> i don't think that's true. maybe. >> -- monday through friday, senator john mccain is taking our advice and softening his attacks on susan rice. after vowing to block her potential nomination as secretary of state. now, republicans are claiming the amb
MSNBC
Nov 26, 2012 9:00am PST
krugman sounded a different note today in the "times" and is talking about this idea that cutting deficits is a number one priority. he writes supposedly any day now investors will lose faith in america's ability to come to grips with its budgets failures. when they do there will be a run on treasury bonds, interest will spike and the u.s. economy will plunge back into recession. this sounds plausible to many people because it's roughly speaking what happened to greece but we're not greece. he's saying while this is a real dynamic for some countries, it is not because of the way we fund ourselves, is that right, ben? >> that's right. i would say morning munnize not actually by given name. >> i didn't know that. >> he's right, we're not greece, we're a much larger economy. we can grow our way out of debts and deficits. we've got a ginormous economy. we had a huge black friday weekend. probably $600 billion for the total shopping over the holidays. the question is, as we get close and getting into december, if it looks like talks are breaking down and we have the same old lines on no tax inc
MSNBC
Nov 27, 2012 11:00am PST
to reduce the long-term deficit, that requires a combination of cuts. it also means asking high income individuals to pay a little bit more. that was a key issue in the campaign. all the exit polls show the american people are on the president's side. the only people who appear to be totally deaf to that are some of the congressional leaders in the republican house and senate. so i think it's important that the president get out and talk to the american people. this is part of the national conversation. this is a very important moment, and so it's important even as the president talks to congressional leaders and he had them down to the white house and continues to be in contact with them, he should engage the american public in this very important national conversation. >> let me ask you, you have a couple of senate republicans who have come out again grover norquist and any kind of notion of a pledge or being held to a lobbyist as opposed to the american people. on the left you have some progressives who are concerned that too many concessions will be made with social security, medic
MSNBC
Nov 28, 2012 8:00am PST
and your party come to this debate with big deficit because you and president bush and dick cheney lied this country into war and you had a lot of lies on foreign policy about wmds. president bush even said once in may 2003 that we found the wmds in iraq. dick cheney and condoleezza rice talked about links to al qaeda in iraq. you've never made up for those huge, serious, significant lies in the arena of foreign policy. and now you're picking apart, you know, basically the very early and ultimately not misleading with regard to foreign policy decisions, statements that this diplomat made. >> one thing we're learning right now the meeting with ambassador rice and senator corker is happening as we speak so a little earlier than that noontime appointment. but the one thing we heard also from senator barrasso in the last hour was john considerry's name floated out and it would be easier for him to sail through. you had the opportunity to work with john kerry before. >> sure. >> when we hear about this, is that really what the game, as joy-ann said, this machiavellian game, basically let's g
MSNBC
Nov 21, 2012 2:30am PST
complications from lymphoma. he warned against large federal deficits and was a fierce critic of the reagan administration in the 1980s iran-contra affair. >> the american people have the constitutional right to be wr g wrong. and what ronald reagan thinks or what oliver north thinks or what i think or what anyone else thinks makes not a whip if the american people say enough. there comes a point that the views of the american people have to be heard. >> the new hampshire senator didn't seek re-election in 1992. later saying "i can see the republican party gradually being taken over by movement conservatives and self-commissioned christian soldiers whose social agenda i found repugnant." warren rudman was 80. >>> as the president considers his cabinet for a second term, the "wall street journal" reports eric holder will likely stay on, at least for the start of the new administration. holder clashed with congress for refusing to turn over certain documents in the fast and furious gun trafficking scandal. he had been the first sitting attorney general to be found in contempt of the house of
MSNBC
Nov 22, 2012 2:00am PST
of sweden suggests teens and adults with attention deficit disorder are four more times likely than others to break the law and also found the use of adhd medication into adulthood might also help curb crime. >>> to sports we start with two nba games. lifting the hawks over washington, 101-100 and next, russ well westbrook had a fading jumper over chris paul. oklahoma city beat l.a. 117-111. >>> fourth ranked michigan made a second half come back at the nit semifinals. wolverines beat pittsburgh skaech-62, to advance for the championship game. a big nfl thanksgiving triple header today, come on, men, you know you're excited, starts with texans at the lions at 12:30 and redskins at downs at 425 and primetime matchup has the "new york times" jets at 8:20 on nbc. >>> your entertainment is straight ahead. on this thanksgiving, actor william shatner gets autotuned in this deep fried turkey from state farm. it's a little bizarre. take a listen. ♪ ♪ i want a deep fried turkey, a moister taking turkey ♪ ♪ blinded by my hung er i ignord safety ♪ ♪ spatula tasted science you're not flame
MSNBC
Nov 28, 2012 2:00am PST
its budget deficit and brought unemployment to the lowest in the nation. >>> coming up, a basketball round up. and remembering the man who transformed baseball. plus new york city's iconic empire state building shows off some new high tech lighting. ♪ if it wasn't for you ♪ don't know what i'd do ♪ i'd have nothing to prove ♪ i'd have nothing to lose ♪ i'd be all lost at sea ♪ with no reason to make it through ♪ [ male announcer ] introducing the celebration diamond collection. ♪ if it wasn't for you [ male announcer ] diamonds so expertly cut, we guarantee them for life. zales is the diamond store. let love shine. . >>> just a tragedy in new york last night as a commuter bus plow the into a long island home and killed a 6-year-old boy inside. the bus had swerved to avoid a pedestrian when it lost control. at least nine bus passengers were treated for injuries. >>> to georgia where a similar accident almost killed a toddler inside a family's jewelry store. this 18 month old ran into his father's office just seconds before the 84-year-old driver plowed the car right in
MSNBC
Nov 21, 2012 11:00pm PST
those cuts go in definition and else places, there will be $560 billion cut in the deficit but a 4% cut in the gdp throwing us technically right into recession. is that you're belief if we don't do anything between now and january 1st this country will go into recession, jared? >> it is my belief if we go over the cliff and stay over the cliff. if we're able to hammer out a deal, even if that deal isn't completely stamped and approved on january 1st, there is the possibility of a very temporary trip over the fiscal slope, if you will, and then a reversal. but if we go over the cliff and stay over the cliff i'm pretty sure we'd be looking at recession. >> what about the impact on world markets and money markets in new york, et cetera, et cetera, what would it do about the confidence of the united states' ability to deal with fiscal matters, if we go over the cliff in any way? >> yes. if you look at those markets today you'll see they're pricing in a solution. that's why treasury bills have a yield of 1.6%, historical low. if those markets believed, as i described it, a deal was in the of
MSNBC
Nov 26, 2012 8:00am PST
that his number one focus was jobs and the economy and also having a long-term plan to reduce the deficit in a balanced way and that means in addition to cuts you would also have revenue, revenue that you get by asking higher income earners to pay a little bit more to reduce the deficit and so the president was really clear in the campaign and i think it is really important that he take that discussion to the country now because he has said to the congress, the president said to the congress, just extend immediately all the middle class tax cuts and then we can decide what to do with folks at the higher end. again, it is important to understand the president has proposed that everybody get continued tax relief, existing tax rates, on the first $250,000 of family income, so he says let's extend that for everybody right now, but he believes we should ask higher income individuals to pay a little bit more. >> house majority leader eric cantor was on morning joe talking about the grover norquist tax pledge and whether he like other republicans would be willing to jump ship. here is his answer
MSNBC
Nov 26, 2012 7:00pm PST
conversation for republicans in this era. one is deficit is the biggest problem. here we are with the cliff, the curve, whatever you want to call it and what do we find out? even republicans are warning they don't want to go over the cliff because guess what? just cutting the deficit without any regard to the rest of our priorities is a bad idea. it happens to be the heart of republican economic policy and the other thing about never raising taxes, guess what? we don't have the gdp to seniors ratio than we did 20 years ago, so if we're going to be serious about an ageing population, it means you can't stick to these fa fantasies. >> i remember two years ago on the show, introducing him to the audience and explaining he's the most powerful republican in government and i had to do this long thing on who he is. and now, here he is in the center of this debate. let's listen to what the republicans are up against in the negotiations with the white house. jay carney indicated today what the president's stance is on income tax rates. >> i would say also that the president has made clear that he wi
MSNBC
Nov 27, 2012 5:00pm PST
of the issues understood the solution to the deficit plan. >> what grows jobs in america are consumers spending money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that. >> and he's a business owner. we need more members of congress to sound like that. if the president is trying to achieve solidarity on raising the top tax rate, these are the voices that can come through for them with that message in a big way. an owner of an automobile supply company says she supports the plan even if it means her own personal rates will go up. . >> i would have higher tax rates, but r more important and more crucial, the middle class would be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250,000 a year. >> the people who have done so well during thi
MSNBC
Nov 28, 2012 4:00pm PST
our bond rating to drop is the fact we're running unsustainable deficits and not dealing with our problem. that's exactly what the -- what the speaker is trying to get at. in terms of this issue, again, look, these are all people i like. these are people i agree with philosophically. i also want to do a good deal for the american taxpayer, including 98% of them. if we can take care of their issue -- i think we'll win the debate. i think they agree with us fundamentally that increases in taxes on anybody cost jobs. that's not good. but as long as it's owe their head their taxes might go up, i think they don't really have time to focus on that debate. again, i just think we ought to take that off. we agree with the president on that. but i respect the speaker. i support the speaker. >> we'll watch how this plays out. >>> joining me is democratic, barbara boxer wrote in politico today. we're looking there at a picture of, senator, of tip o'neill and reagan signing the bill. >> yes. >> on social security reform. you spoke about an earlier issue in your piece today about how they got t
MSNBC
Nov 26, 2012 6:00am PST
to the current debt or the deficit. social security is something that needs to be shored up. it's relatively easy to do compared to the other -- compared to the other problems, but we need to take a balanced approach to the other problems. this idea that we can just -- you know, the american people didn't believe the republican party's nominee who said we can just get rid of some of these deductions. we can get rid of some of the loopholes. that's not going to work. >> i don't understand the, frankly, the contortions being taken by some republicans to avoid raising the tax rate even a point or two at this point. can you explain why it's so important not to raise the rate at all even if it means getting rid of all sorts of deductions? >> because i think you have to say before you raise the rates and say, hey, everyone needs to pay more, we need to look at things we can do to flatten the code, to grow the economy, why would you tell people they have to pay more, small businesses, individuals, before -- >> make them pay more by getting hatch the deductions. >> it makes it flatter and fairer and supp
MSNBC
Nov 26, 2012 7:00am PST
and that is however we try to deal with the deficit it has to be balanced and it has to call on wealth the wemt iest americans to do their share, and that's all we're looking for, so i think people are dreaming if they think we're going to get a deal on entitlements in three weeks. that is not going to happen and i think it would be irresponsible to try to come up with any approach to entitlement reform in such a compressed period of time. >> reasonably what do you think can get done in the next three to five weeks until the first of the year? >> i think we can head off the problem with everybody's taxes going up. the senate has already passed a bill extending the tax cuts for 98% of the american people. that's a real easy one if speaker boehner can deliver maybe 30, 35 votes. i think we would be happy to pass that and avert that huge tax increase at the end of the year or beginning of next year and we can extend the spending limits and delay the across the board cuts until a more comprehensive balanced approach is negotiated. >> senator bob corker is putting out a plan that includes a trillion doll
MSNBC
Nov 26, 2012 1:00pm PST
years. that's significant deficit reduction and you don't have to get into all this michigas as my grandma would say about which loopholes you're going to close. when you go that route you run into the same math problem mitt romney had. there's typically not enough revenue to make up for if the upper -- >> i have seen you do the experiment with the glass and it's wonderful. most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans listen? >> well, it's a sensible way. if we're going to have a deal, we will have to see some kind of compromise. a minimum tax on people making over $1 million a year can generate a half it trillion in a ten-year scale. if y
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